Prudential Financial Inc. Acquires 123,283 Shares of Alliant Energy Corporation $LNT

Prudential Financial Inc. lifted its holdings in shares of Alliant Energy Corporation (NASDAQ:LNT) by 73.0% during the 2nd quarter, Holdings Channel reports. The firm owned 292,171 shares of the company’s stock after purchasing an additional 123,283 shares during the quarter. Prudential Financial Inc.’s holdings in Alliant Energy were worth $17,668,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Coldstream Capital Management Inc. lifted its stake in Alliant Energy by 2.2% in the second quarter. Coldstream Capital Management Inc. now owns 42,210 shares of the company’s stock valued at $2,552,000 after buying an additional 896 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Alliant Energy by 0.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,291,630 shares of the company’s stock valued at $138,575,000 after acquiring an additional 21,036 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Alliant Energy by 3.0% in the 2nd quarter. American Century Companies Inc. now owns 51,164 shares of the company’s stock valued at $3,094,000 after acquiring an additional 1,476 shares in the last quarter. Bahl & Gaynor Inc. lifted its position in shares of Alliant Energy by 26.8% during the 2nd quarter. Bahl & Gaynor Inc. now owns 601,302 shares of the company’s stock valued at $36,361,000 after acquiring an additional 127,201 shares during the period. Finally, Rhumbline Advisers boosted its stake in Alliant Energy by 2.3% during the second quarter. Rhumbline Advisers now owns 558,788 shares of the company’s stock worth $33,790,000 after acquiring an additional 12,678 shares in the last quarter. Institutional investors and hedge funds own 79.90% of the company’s stock.

Analyst Ratings Changes

LNT has been the subject of a number of research reports. Weiss Ratings restated a “buy (b)” rating on shares of Alliant Energy in a report on Monday. Wall Street Zen downgraded Alliant Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Barclays set a $65.00 target price on Alliant Energy and gave the company an “underweight” rating in a research report on Tuesday, October 14th. UBS Group raised Alliant Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $74.00 to $79.00 in a research note on Friday, October 24th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $78.00 price objective on shares of Alliant Energy in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $69.88.

Alliant Energy Stock Up 1.0%

Shares of NASDAQ LNT opened at $69.18 on Thursday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.57 and a quick ratio of 0.46. The company has a 50-day moving average price of $67.34 and a 200-day moving average price of $64.59. The stock has a market capitalization of $17.78 billion, a P/E ratio of 21.35, a P/E/G ratio of 3.20 and a beta of 0.57. Alliant Energy Corporation has a 1 year low of $56.30 and a 1 year high of $69.75.

Alliant Energy (NASDAQ:LNT) last announced its quarterly earnings results on Thursday, November 6th. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.05). The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.34 billion. Alliant Energy had a net margin of 20.07% and a return on equity of 12.25%. Alliant Energy’s revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.15 EPS. Alliant Energy has set its FY 2025 guidance at 3.170-3.23 EPS. On average, equities research analysts forecast that Alliant Energy Corporation will post 3.23 EPS for the current fiscal year.

Alliant Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Friday, October 31st were issued a $0.5075 dividend. This represents a $2.03 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, October 31st. Alliant Energy’s dividend payout ratio (DPR) is currently 63.84%.

Alliant Energy Company Profile

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the United States. It operates in three segments: Utility Electric Operations, Utility Gas Operations, and Utility Other. The company, through its subsidiary, Interstate Power and Light Company (IPL), primarily generates and distributes electricity, and distributes and transports natural gas to retail customers in Iowa; sells electricity to wholesale customers in Minnesota, Illinois, and Iowa; and generates and distributes steam in Cedar Rapids, Iowa.